Malaysia-based International Islamic Liquidity Management Corporation (IILM) has reissued a $1.01 billion short-term A-1 rated sukuk in three series.
The three issuances have been priced by the market as follows: $360 million of a one-month tenor at 0.27 per cent, $400 million of a three-month tenor at 0.43 per cent and $250 million of a six-month tenor at 0.55 per cent.
According to IILM, the orderbook closed in excess of $1.3 billion, representing an oversubscription rate of 1.38 times, as the tender resulted in significant demand from Middle Eastern, Asian and African investors.
The corporation has issued a cumulative amount of $5.92 billion since the start of the year.
(Writing by Gerard Aoun; editing by Seban Scaria)
#IILM #SUKUK #ISLAMICFINANCE #MALAYSIA
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